8-KCurrent report
Results of operations
✓ VerifiedPlanet Labs reported record first-quarter revenue of $94.2 million, up 42% year over year, with backlog above $906 million and $731 million of cash after redeeming its public warrants.
Filed Jun 4, 2026 · 16:10 ET
Summary
- Revenue for the first fiscal quarter ended April 30, 2026 increased 42% year over year to a record $94.2 million.
- Backlog grew 72% year over year to over $906 million, and recurring annual contract value was 99% of the total.
- Net loss was $138.9 million, including an approximate $106.5 million revaluation loss from warrant liabilities tied to stock price appreciation; the warrant redemption generated approximately $107.8 million of exercise proceeds.
- Adjusted EBITDA loss was $1.0 million, against a $1.2 million profit in the prior-year quarter.
- The company ended the quarter with $731 million of cash, cash equivalents, and short-term investments.
Key facts
- Revenue
- $94.2 million, up 42%
From the filing for Revenue
“First quarter revenue increased 42% year-over-year to a record $94.2 million.”
- Backlog
- over $906 million
From the filing for Backlog
“grew 72% year-over-year to over $906 million”
- Net loss
- $138.9 million
From the filing for Net loss
“First quarter net loss was ($138.9) million”
- Cash
- $731 million
From the filing for Cash
“We ended the quarter with $731 million of cash, cash equivalents, and short-term investments”
Why it mattersGrowth accelerated while the warrant overhang cleared, leaving the loss line dominated by a one-time revaluation rather than operations.
- Filed
- Jun 4, 2026
- Accepted
- 2026-06-04 20:10Z
- Period
- Jun 4, 2026
- Accession no.
- 0001193125-26-257401
- Size
- 913 KB
- Index
- Filing index